{"id":7850,"date":"2014-07-31T08:18:21","date_gmt":"2014-07-31T13:18:21","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=7850"},"modified":"2014-07-31T08:18:21","modified_gmt":"2014-07-31T13:18:21","slug":"before-the-open-jul-31-3","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=7850","title":{"rendered":"Before the Open (Jul 31)"},"content":{"rendered":"

Good morning. Happy Thursday.<\/span>
\n The Asian\/Pacific markets closed mixed. China moved up 0.9%, Singapore 0.6%. Taiwan dropped 1.4%, India 0.7%. Europe is suffering big losses. Greece is down 2.2%, Italy 2.1%, Spain and Belgium 1.5%, Austria 1%, Amsterdam 1.2%, Norway 1.1%, Germany 1.3% and France 1.1%. Futures here in the States point towards a big gap down open for the cash market.
\n<\/span>
\n The dollar is up. Oil is down, copper down. Gold and silver are down. <\/span>
\n Here’s a repeat of what I stated yesterday…if left alone, without any outside influences, the market’s next move will be down.<\/span>
\n The 10-day of the AD line<\/strong> is back below 0. If it fails to move up soon, the path of least resistance will be down.<\/span>
\n\"\"
\n The 10-day of the AD volume line<\/strong> isn’t giving the bulls much room for error. Bounce or else lower prices are coming. <\/span>
\n\"\"
\n The low print from the new highs<\/strong> isn’t helping the bulls’ case.<\/span>
\n\"\"
\n New highs<\/strong> at the Nas are also nowhere to be found. <\/span>
\n\"\"
\n The SPX bullish percent<\/strong> is now trending down. <\/span>
\n\"\"
\n And the Nas bullish percent<\/strong> continues down. <\/span>
\n\"\"
\n Again, unless good news hits the market, the technicals say down. <\/span>
\nStock headlines<\/strong> from barchart.com…<\/span>
\n CME Group (CME +0.44%) reported Q2 EPS of 77 cents, below consensus of 79 cents.<\/span>
\n Avon Products (AVP +0.39%) reported Q2 EPS of 20 cents, weaker than consensus of 21 cents.<\/span>
\n Con-way (CNW +0.19%) reported Q2 EPS of 91 cents, well above consensus of 75 cents.<\/span>
\n Lam Research (LRCX -1.32%) reported Q4 adjusted EPS of $1.25, better than consensus of $1.23.<\/span>
\n Western Digital (WDC +0.38%) reported Q4 EPS of $1.85, stronger than consensus of $1.74.<\/span>
\n Unum Group (UNM -0.46%) reported Q2 EPS of 94 cents, higher than consensus of 87 cents.<\/span>
\n Endurance Specialty (ENH -0.19%) terminated its offer to acquire Aspen Insurance (AHL -0.63%) .<\/span>
\n Hologic (HOLX +1.68%) reported Q3 EPS of 37 cents, better than consensus of 34 cents, and then raisd guidance on fiscal 2014 EPS view ex-items to $1.44-$1.45 from $1.37-$1.40, higher than consensus of $1.40.<\/span>
\n Allstate (ALL -0.28%) gained nearly 3% in after-hours tradng after it reported Q2 operating EPS of $1.01, well above consensus of 70 cents.<\/span>
\n MetLife (MET +0.65%) reported Q2 EPS of $1.39, less than consensus of $1.41.<\/span>
\n Kraft Foods (KRFT -0.90%) dropped over 2% in after-hours trading after it reported Q2 EPS of 80 cents, weaker than consensus of 83 cents.<\/span>
\n Fortune Brands (FBHS +0.11%) reported Q2 EPS of 55 cents, higher than consensus of 54 cents, although Q2 revenue of $1.14 billion was slightly less than consensus of $1.17 billion.<\/span>
\n Whiting Petroleum (WLL -0.13%) rose over 1% in after-hours trading after it reported adjusted Q2 EPS of $1.40, stronger than consensus of $1.28.<\/span>
\n AMC Entertainment (AMC -0.31%) reported Q2 EPS of 32 cents, higher than consensus of 29 cents.<\/span>
\n Whole Foods Market (WFM +3.80%) fell over 4% in afer-hours trading after it reported Q3 EPS of 41 cents, better than consensus of 39 cents, but then lowered guidance on fiscal 2014 EPS view to $1.52-$1.54 from $1.52-$1.56, at the low end of consensus of $1.53.<\/span>
\n Akamai (AKAM +2.93%) reported Q2 EPS of 58 cents, higher than consensus of 55 cents.<\/span>
\nEarnings and Economic Numbers<\/strong> from seekingalpha.com…<\/span>
\n Today’s economic calendar:
\n 7:30 Challenger Job-Cut Report
\n 8:30 Initial Jobless Claims
\n 8:30 Gallup US Payroll to Population
\n 8:30 Employment Cost Index
\n 9:45 Chicago PMI
\n 10:30 EIA Natural Gas Inventory
\n 3:00 PM USDA Ag. Prices
\n 4:30 PM Money Supply
\n 4:30 PM Fed Balance Sheet<\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>
\n Notable earnings before today’s open: AAWW, ABMD, ACIW, ACOR, ADP, AGI, ALKS, ALU, AMRC, APA, ASEI, ATK, AVP, AYR, AZN, BDX, BG, BGCP, BKCC, BLL, BUD, BWA, BZH, CCJ, CDW, CEVA, CHTR, CI, CL, CME, CNSL, COMM, COP, COT, CRCM, CRR, CTCM, CVI, CVRR, DDD, DISCA, DLPH, DTV, ENDP, EPD, EXC, FCH, FCN, FIG, FLY, FRM, GEL, GG, GIL, GLOP, GMT, GNRC, GTLS, H, HGG, HL, HP, HST, IDA, IMN, INCY, IRDM, IRM, ITT, IVZ, K, KMT, LKQ, LLL, LM, MA, MCK, MD, MDP, MNTA, MOD, MOS, MPC, MPLX, MSCI, MTOR, MWIV, NGD, NI, NJR, NWL, OAK, OCN, ODFL, OXY, PCG, PCRX, PES, PNR, PNW, PPL, PRFT, PWR, Q, RFP, RYL, SBH, SC, SCG, SFY, SHOO, SNAK, SNMX, STC, STRA, STRZA, SUP, SWC, TE, TEVA, TKR, TRP, TWC, UAN, UPL, USAK, VG, VICL, VNTV, VRX, WLT, WWE, XEL, XOM, XRAY<\/span>
\n Notable earnings after today’s close: ABCO, ABTL, ACGL, ADNC, ADUS, AFFX, AHS, AIV, ARRS, ASH, AVD, AXTI, BAGL, BBG, BBRG, BEAT, BRKS, BYD, CALD, CERS, CPSI, CPT, CTRL, CYH, DATA, DCT, DGI, DVA, DXPE, EEP, EGO, EIX, ELLI, ESIO, EXEL, EXPE, FLDM, FLR, FLT, FNGN, G, GDOT, GFIG, GPRO, HME, HNSN, IMMR, IMPV, JIVE, JLL, KEYW, KOG, KRG, LNKD, LOPE, LRE, LYV, MATX, MCHP, MHK, MRC, MXL, MXWL, NGVC, NKTR, NU, OIS, OMCL, ONNN, OUTR, PCCC, PCYC, PKI, PMCS, PSA, PXLW, RMD, RMTI, SGEN, SKUL, SPF, SPWR, SREV, SSNC, STAA, SWIR, SWN, SYNA, THG, TNAV, TRLA, TSLA, TSYS, VCRA, WU, WWWW, YRCW<\/span>
\nOther<\/strong>…<\/span>
\ntoday’s upgrades\/downgrades<\/a> from briefing.com<\/span>
\nthis week’s Earnings<\/a><\/span>
\nthis week’s Economic Numbers<\/a><\/span>
\n